Former Alameda CEO Caroline Ellison Joins AI Safety Charity Manifund

Summary

• Former Alameda Research CEO Caroline Ellison joined Manifund to develop its funding platform and strengthen the nonprofit’s philanthropic programs worldwide.
• Ellison cooperated with federal prosecutors in the FTX case and served prison time for fraud and conspiracy-related offenses.
• Manifund defended the appointment as a second chance while acknowledging customer losses connected to FTX’s multibillion-dollar collapse and bankruptcy proceedings.

Former Alameda Research CEO Caroline Ellison has joined nonprofit charity Manifund to develop its funding platform and support philanthropic programs. According to Manifund cofounder Austin Chen, Ellison completed a work trial in July before securing full-time employment in August.

She published her contributions under the pseudonym “Carol” during the trial period, keeping her identity away from Manifund’s public audience. Her responsibilities include improving the organization’s funding technology and strengthening initiatives supporting artificial intelligence safety and effective altruism.

Chen disclosed the appointment through a public post addressing Ellison’s qualifications, criminal history, and prospects for rebuilding her professional career. Moreover, he acknowledged the substantial financial damage linked to FTX’s collapse while explaining Manifund’s decision to employ Ellison.

Chen argued that Ellison had admitted her wrongdoing, supported creditor recovery efforts, cooperated with authorities, and completed her prison term. “I believe in redemption,” Chen wrote while presenting the appointment as an opportunity for Ellison to contribute positively through charitable work. He expressed hope that the wider public would accept Manifund’s decision to evaluate Ellison through her conduct and current performance.

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Ellison Rebuilds Career Following Cooperation in FTX Criminal Case

Ellison pleaded guilty in December 2022 to fraud and conspiracy charges connected to the collapse of cryptocurrency exchange FTX. Her former trading company, Alameda Research, maintained extensive financial ties with FTX before both businesses entered bankruptcy proceedings.

The exchange’s failure left customers facing billions of dollars in losses and sparked criminal investigations targeting several former senior executives. Significantly, Ellison cooperated with federal prosecutors and provided testimony against FTX founder Sam Bankman-Fried during his criminal trial.

Her testimony detailed financial practices within Alameda and explained how customer funds moved between the trading company and cryptocurrency exchange. A jury convicted Bankman-Fried on multiple fraud and conspiracy charges, while a federal judge sentenced him to 25 years.

Meanwhile, Ellison received a two-year sentence because the court considered her wrongdoing alongside her extensive cooperation with the prosecution. She entered prison in November 2024 and secured an early release from federal custody in January 2026.

Manifund Defends Hiring as Ellison Begins New Professional Chapter

Ellison also apologized for her actions while expressing appreciation for the opportunity to begin a new professional chapter at Manifund. She thanked Chen for evaluating her present work rather than judging her employment prospects entirely through her involvement with FTX.

Additionally, Ellison described herself as fortunate to join an organization whose projects and broader charitable mission reflect her interests. Manifund operates a platform that directs funding toward projects expected to create measurable benefits across selected areas of public interest.

Its website identifies artificial intelligence safety and effective altruism among the primary areas receiving support through its funding activities. Consequently, Ellison’s appointment places her within an organization operating outside cryptocurrency trading, where she previously built her professional reputation.

Her arrival also draws public attention toward Manifund because her name remains closely associated with FTX’s multibillion-dollar collapse. However, Chen has positioned the hiring as a measured second chance based on accountability, completed punishment, and Ellison’s performance during trial work. Ellison will now help expand Manifund’s funding infrastructure while contributing to charitable projects aligned with the nonprofit’s established mission.

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